Giving a quotation

This is a public answer to a private question. First of all, let me put things straight. I never received advise on the matter of fee setting and giving quotation. If you think that after all these years, things are set and clear, you'll be wrong. They are almost set and clear although sometimes doubt creeps back to you, but seldom today.

Also, this has never been intended as a self-help kind of blog where the self-confident gives you a good lesson, oozing of what else but ... self-confidence.

So let me state that self-confidence is not part of the freelancing game, but aiming at it should come as one over many other essential objectives from day one, although you don't reach it from day two.

Two essential things :

1. Set a price limit with yourself. The price limit is what you deem acceptable, the minimum threshold under which, except for the exceptional situations, you will feel bad you accepted. It is very difficult to focus and work well when you feel you blundered with you fees.

2. Know the realities of the market. This knowledge takes time to get and it must be revised often. It is this knowledge that will nourish the issue at #1, but not necessarily exactly reflect it.  

There are a few Japanese newsletters providing news for interpreting stints that come with fees. These are the worst cases and you may feel the gloom and hypocrisy of the market when reading the figures and conditions. A recent one announced and "attendant job" of multiple days somewhere in the countryside with nothing special, just "attending" a British technician in a noisy and hot environment, a few knowledge of electromechanics and the likes. And you get the privilege to get paid ¥1800 per hour. You can be sure someone took the job.

Is this someone to be you, and is this acceptable? If you are in the market and need any money, or are ready to accept anything for the sake of gaining experience, the answer is a pragmatic and cool "Yes". Go for it, knowing that this is close to a scam, but not an exception.

You will roam the Internet for local agencies and try and grab any information about fees, but also fees versus duration. Some give figures or hints. The majority gives nothing. Next, you will do the same for agencies outside this country for the same purpose. You will also do the same for freelancers like you and me but the instances of individual freelancers web sites are reduced and usually no fee figure is provided, which is the way to go, unless you want to tell the world you shave for 0.99 cents on Thursdays. 

The only cases I know where a figure is clearly announced is for deposition interpreters. This being such a niche and high end market where clients don't go fishing for bargain, the "starts from ¥120,000 a day of 8 hours including 1 hour rest" is standard. They don't worry about the competition.

I put a plural above to market "realities" because there is no single reality although the urge for deflation of fees is one among other realities. Knowing the realities is a game of searching for clues, hints and clear data.

Usually, don't ask your colleagues about their fees for the following reasons :

1. You can't ask because you mostly know no colleagues as most interpreters are stupid enough not to professionally bond. It is acute in this country although it may not be that different elsewhere. Yet, some specialties do bond, that's why you have associations of medical interpreters for instance.

2. Asking for fees applied by a colleague is usually a proof of your lack of self-confidence and can be perceived much like asking for her Visa card number including the PIN code. But you may have a varied reaction if you try it. Before that ask yourself how you would feel if asked. I will tell you my current fees when we meet. It is as far as I know in the market, although the market's span is huge, but guessing what's above at the top is easy. The deposition interpreting figure is a clear indication.

3. Asking about individual fees usually may make feel you bad, unless you are confident more than 100% in your own fee rules. It is tough to argument why you ask much less than your counterpart, and your counterpart may hate you because by asking so few "you are breaking the market" (which is furiously funny coming from people who can't professionally bond, because this bondlessness is a factor of market breaking if you think deep into it).

Only if you have a friendly relationship with a colleague may you ask about fees.

Don't think that a client calls you direct because she first contacted an agency and could not gulp down the estimate. There are many factors that explain why and how the prospect came knocking at you door. But when she comes and asks, be ready to answer with assumed or faked self-confidence.

However, I would rarely answer right away unless I get a minimum of information about the assignment. Inquirers not providing information right away or sending an inquiry through Yahoo! Mail and the likes are usually suspect, although I have had cases where things turned around nicely.

There are countries from which most of the time never conclude. Singapore, Hong Kong, China at large and India are the standards worse case only looking for the ceiling price. If you want to be the ceiling price, that's fine as long as you don't hate you. Otherwise, read back the top arguments. 

There will always be someone accepting less than you do.

Don't offer an hourly rate. Offer a half-day and a full-day rate. A half-day is up to 3 hours, a full day is up to 8 hours. For full days, you may agree with yourself that it is limitless. Yet, when it goes beyond 14 hours, you'll start and hate you, or even before. I never had to hate me for that reason at least. I have a past 8 hours rate with an increment of one hour, although most of the time, 8 hours is enough. If you accompany a delegation over several day, apply a fix daily fee with no mention of time.

Have arguments ready when a prospect tells you "but it's only 2 hours". Your arguments are to be based on cost of opportunities and the fact that your time is money. 

Don't bargain unless you really want the job, after you exposed your fees. Find good reasons - for yourself- to accept less (because it's a multiple days assignments, because it could turn into a regular client - although don't count on it first time - because I have to pay the rent, etc.).

Assume confidence with your arguments to justify your fees, but don't argue much. My own argument is that you don't bargain at the butcher's, so why should the client bargain, especially when asking for off-the market fees? OK, there are other butcher's where the meat is cheaper. But there are butcher's where the meat is more expansive that make good business. It always comes down to self-confidence with one's fees.

Once you have set your fees with yourself, the span at which you may consider lower the line, be prepared to review the whole set in some special circumstances, or as a reflection of market circumstances.

Don't work for free, that is, in this country at least, don't work for free. I have seen requested from embassies for "language attendants" in some non-profit setting, transportation cost at your charge. If from the heart, you should at least get the money for the tickets and water for free.

So the way to give your quotation is much like the butcher's way, with confidence, real or faked.

I must have missed some additional points but that's about it for today.